Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1 - Basis of presentationThe accompanying schedule of expenditures of federal awards (the "Schedule") includes thefederal award activity of the Authority under programs of the federal government for the year endedDecember 31, 2022. The information in this Schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance").Because the Schedule presents only a selected portion of the operations of the Authority, it is notintended to and does not present the financial position, changes in net position, or cash flows of theAuthority.Note 2 - Summary of significant accounting policiesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized in accordance with the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. The Authority has elected not to use the 10-percent de minimis indirect cost rate asallowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE_RENTAL HOUSING (14.134) - Balances outstanding at the end of the audit period were 18315979.